June 15, 2017 – Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (USA: EQTRF), formerly Equitas Resources Corp. (“Altamira” or the “Company”) is pleased to announce that it has commenced the planned program of drilling at the Cajueiro project located in western Brazil.
A series of diamond drill holes are planned on several soil anomalies at Cajuiero in the Baldo and Morro Verde target areas which together constitute the bulk of the existing resource (as detailed below). The current drill program will be directed outside of the current resource in an effort to track down the source of those gold-in-soil anomalies and expand the current NI 43-101 resource.
Drilling rig on location at Cajueiro:
The trenching program at Cajuiero is now complete with a total of 1200m of mechanical trenching completed on the property. Results are currently pending on a number of samples. This program is assisting with the siting of drill holes.
The Company also announces that it has received and accepted the resignation of Mr. Kyler Hardy as Chairman and a Director of the Company. Kyler will turn his full-time attention to a number of Canadian projects that he is currently involved with. Mr. Carter stated: “We wish to thank Kyler for his contributions to Altamira Gold Corp. during his time with the Company, and wish him well in his future endeavors” The board of Altamira Gold Corp. will meet shortly to consider the options for Kyler’s succession.
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold deposits within western central Brazil. The Company holds 12 projects comprising approximately 200,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company’s advanced Cajueiro project has an NI 43-101 compliant resources of 8.64Mt @ 0.77 g/t Au (for 214,000oz) in the Indicated Resource category and 9.53Mt @ 0.66 g/t Au (for 282,000oz) in the Inferred Resource category and an additional 1.37Mt @ 1.78 g/t Au in oxides (for 78,400oz in saprolite) in the Inferred Resource category.
On Behalf of the Board of Directors,
ALTAMIRA GOLD CORP.
President & CEO
Everett Makela, P. Geo., a consultant to the Company as well as a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
Neither TSX Venture Exchange nor it Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Except as required by law, we do not undertake to update these forward looking statements.